Art of the Possible
Date Published: April 1, 2002
Publisher: Bloomberg Wealth Manager
Author: Jacobs, Deborah
Many private foundations fall apart because family members just can’t agree on grants, the function that each generation should serve, or a succession plan, says Ellen Remmer,director of family philanthropy practice at the Philanthropic Initiative, a Boston not-for-profit that supports charitable work.Family dramas often overlay the decision-making process, she says. Though you can’t expect a foundation to rehabilitate a dysfunctional family, there are steps advisers can recommend to reduce the squabbles,says Remmer.